Scale of Tax Avoidance Revealed

Scale of Tax Avoidance Revealed

The degree of tax avoidance by the super rich has been revealed after figures released by the Treasury.

The findings show that nearly 1,000 British taxpayers who earn over £1 million per year are paying less than 30 percent of their income in tax.

It was also revealed that there are 12 taxpayers earning over £10 million per year who are paying less than 10 percent in tax.

This is the first time that such comprehensive figures regarding the UK’s wealthy have been publicised by the Treasury.

Tax avoidance – A Treasury spokesperson said: “There are currently millionaires paying a lower rate than ordinary taxpayers. This is the system we have at the moment, but the government is committed to making it fairer.

“We’re capping benefits and these figures clearly show why it’s fair to cap tax reliefs for the wealthy as well.”

Ricky Steedman

Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.

His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.

Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.

Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.